Page 57 - AAE PR REPORT - MAY 2025

5/15/25, 9:37 AM Al Ansari Financial Services net profit after tax surges 10% to AED 109mln
Q1’25 Operational Performance Commentary
The total number of transactions for Q1’25 grew by 1% compared to the same period
last year, reaching a 12.5 million transactions.
Improved conditions across key remittance corridors have strengthened the
operating environment; however, the market continues to navigate pressures from
certain fintech practices and ongoing geopolitical tensions, which have weighed on
remittance income. Despite these headwinds, Remittance Operating Income rose by
4% YoY to AED 171 million, reflecting the Group’s robust fundamentals and market
adaptability.
Although geopolitical tensions in certain markets have exerted pressure on the
banknotes business, the Group maintained a resilient performance in this segment
during Q1’25 reporting an increase in Banknotes Operating income by 7% YoY to
AED 93 million. Strategic partnerships, strong performance and increased demand
on our prepaid cards, and the UAE’s surge in tourism enabled us to navigate
disruptions and continue meeting and exceeding customer demand.
The Group’s Wage Protection System (WPS) Other Products & Services business
delivered stable growth in Q1’25, with operating income increasing by 26% YoY to
reach AED 30 million. This growth was driven by the UAE’s expanding labour market
and ongoing infrastructure and development projects. As more employers prioritise
compliance and timely salary disbursements, demand for secure, efficient payroll
solutions remains strong. Our robust digital payroll offerings and extensive branch
network have enabled us to deepen client relationships and support the evolving
needs of businesses across sectors. This steady performance reaffirms our strategic
role in facilitating financial inclusion and supporting the UAE’s economic momentum.
The Group’s continued investment in digital innovation is yielding strong results, with
a notable 16% YoY increase in the number of transactions conducted through our
digital channels in Q1’25, with Digital Channels contributing to 24% of the total
outward remittance transactions. This growth reflects the accelerating adoption of our
digital platforms, as more customers choose the convenience, speed, and reliability
of our online and mobile services. The uptick in usage is a direct outcome of our
commitment to delivering a seamless and intuitive customer experience one that
builds trust and encourages long-term digital engagement. As we advance our digital
transformation strategy, these early adoption trends position us well for scalable
growth and deeper customer connectivity in the quarters ahead.
Commenting on the results, Rashed A. Al Ansari, Group CEO of Al Ansari Financial
Services, said:

“We began 2025 with strong momentum, and our first-quarter results are a testament to the
strength of our business model, the trust of our customers, and our commitment to
delivering accessible, technology-driven financial solutions. Despite ongoing geopolitical
challenges and fierce competition, we achieved solid growth across our core segments
through disciplined execution and an unwavering focus on customer experience.
We successfully maintained our customer base and market share, underscoring the
resilience of our brand.
The continued growth in digital transactions reflects our successful efforts to drive
innovation and expand access to essential financial services. Our performance across
remittances, WPS, and banknotes reinforces our central role in advancing financial
inclusion and supporting the diverse needs of individuals and businesses in the UAE and
beyond.
We delivered on our promise, expanding in line with our strategy and doubling the number
of countries in which we operate. Our strategic growth initiatives and recent acquisition are
designed to future-proof the company, positioning us for sustained success in an evolving
financial landscape. In addition, we have begun integrating AI into our systems, and the
early results have been both promising and exceeding expectations.
As we look ahead, we remain deeply aligned with the UAE’s vision for a digitally
empowered, inclusive economy. We will continue investing in technology, deepening
customer engagement, and pursuing sustainable growth that delivers long-term value to
our shareholders, customers, and the communities we serve.”
Mohammad Bitar Deputy Group CEO of Al Ansari Financial Services, added:
“Q1 2025 was defined by strong operational execution across the Group, as we focused on
driving efficiency, strengthening service delivery, and preparing for future growth. We
achieved notable improvements in process optimisation and customer engagement across
both physical and digital touchpoints.
A key milestone was the successful closing of the BFC acquisition, which marks a major
step forward in our regional growth strategy. Integration efforts are progressing smoothly,
and we expect to begin reflecting the impact of this consolidation in Q2 2025. This

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